Blinking effect on UILabel

You can do this within a block:

self.yourLabel.alpha = 1;
[UIView animateWithDuration:1.5 delay:0.5 options:UIViewAnimationOptionRepeat | UIViewAnimationOptionAutoreverse animations:^{
        self.yourLabel.alpha = 0;
} completion:nil];

So you dont need a second method.

Swift 3

extension UILabel {

    func startBlink() {
        UIView.animate(withDuration: 0.8,
              delay:0.0,
              options:[.allowUserInteraction, .curveEaseInOut, .autoreverse, .repeat],
              animations: { self.alpha = 0 }, 
              completion: nil)
    }

    func stopBlink() {
        layer.removeAllAnimations()
        alpha = 1
    }
}

You can simply make an extension to the UILabel class that will support the blinking effect. I don't think using a timer is a right approach since you won't have any fade effect.

Here is the Swift way to do this:

extension UILabel {
    func blink() {
        self.alpha = 0.0;
        UIView.animateWithDuration(0.8, //Time duration you want,
                            delay: 0.0,
                          options: [.CurveEaseInOut, .Autoreverse, .Repeat],
                       animations: { [weak self] in self?.alpha = 1.0 },
                       completion: { [weak self] _ in self?.alpha = 0.0 })
    }
}

Swift 3:

extension UILabel {
    func blink() {
        self.alpha = 0.0;
        UIView.animate(withDuration: 0.8, //Time duration you want,
            delay: 0.0,
            options: [.curveEaseInOut, .autoreverse, .repeat],
            animations: { [weak self] in self?.alpha = 1.0 },
            completion: { [weak self] _ in self?.alpha = 0.0 })
    }
}

EDIT Swift 3: Works for almost any view

extension UIView {
    func blink() {
        self.alpha = 0.0;
        UIView.animate(withDuration: 0.8, //Time duration you want,
            delay: 0.0,
            options: [.curveEaseInOut, .autoreverse, .repeat],
            animations: { [weak self] in self?.alpha = 1.0 },
            completion: { [weak self] _ in self?.alpha = 0.0 })
    }
}